- Pearl Gull Iron (PLG) announces high-grade results from its exploration of Cockatoo Island’s Switch Pit area
- Best results from drilling at the site include 10.9 metres at 62.6 per cent iron from 18.4 metres depth
- The company reports modest iron mineralisation was found in the first results returned from the North Bay Prospect
- Additional assay are pending from both projects, with results to be released shortly
- PLG shares ended the day at 7.2 cents per share
Iron ore miner Pearl Gull Iron (PLG) has announced high-grade results from its Switch Pit exploration program within Cockatoo Island.
The diamond drilling program comprised of 11 holes and continues to display high grade iron material from the main Seawall haematite unit and the adjacent footwall.
One hole delivered 10.9 metres at 62.6 per cent iron from 18.4 metres depth. Results from the remaining holes are still pending.
PLG explains the footwall iron mineralisation ore types will be tested for beneficiation with results expected in coming months.
Chairman Russell Clark says the Switch Pit results will help the company develop its plans.
“The supporting footwall mineralisation continues to be of interest for potential beneficiation; with historical similar operations on the adjoining tenements having been successful,” he said.
“We look forward to the remaining Switch Pit holes to round out this drill campaign and provide further input for the resource consultants as they continue their work.”
The first results from the North Bay prospect have also found modest iron mineralisation in one hole within haematitic sandstones quartzites.
Results include 2.85 metres at 47.7 per cent iron from 66.1 metres depth.
Further assays are currently being completed in the laboratory with the remaining results to be released in the coming weeks.
Shares in Pearl Gull Iron ended Tuesday at 7.2 cents per share.